Browsing: MSMEs in Uganda

The government of Uganda and The African Development Bank signed an agreement worth $500,000 to finance Micro, Small and Medium Enterprises (MSMEs) so as to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project.

The bank will contribute the funds through the Fund for African Private Sector Assistance (FAPA) while the Government of Uganda through the Petroleum Authority will provide counterpart funding. A similar project is also being finalised in Tanzania.

The key objective of the grant is to help develop the capacity of local Uganda MSMEs along the East African crude oil pipeline by helping them to build linkages with larger, national, regional and international companies as well as accessing new market opportunities.

The project aims to create an estimated 500 jobs along the pipeline and support inclusive private sector growth.

According to the African development bank, “the grant was provided in response to a …

Uganda’s Micro, small and medium enterprises (MSMEs) that have been greatly affected by the COVID-19 pandemic are going to access affordable credit to help them get back into business.

This is after the launch of the COVID-19 recovery and resilience programme by Brac Bank and Brac Uganda, a non-governmental Organisation, with support from Mastercard Foundation.

The program aims at supporting the recovery of Uganda’s MSMEs that have been greatly affected by the pandemic.

Speaking during the launch of the programme in Kampala, Jimmy Onesmus Adiga the managing director Brac Uganda Bank, said the programme is intended to improve economic access and recovery for 5,400 women group borrowers, with access to microloans at a low-interest rate.

He also added that the funds will help build the capacity of Brac’s 2,891 community health workers and ensure their safety as they work to reduce coronavirus infection rates.

George Matete the director Brac NGO …